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IRS Warns of Three Tax Traps for High-Income Filers

11 April 2024

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United States

As part of its annual Dirty Dozen list of tax scams, the U.S. IRS has warned of three tax traps for high-income filers. --- Dirty Dozen: High-income filers vulnerable to illegal tax schemes; face risk from improper art donation deductions, charitable remainder annuity trusts, monetized installment sales IR-2024-104, April 10, 2024 WASHINGTON — As part of the Dirty Dozen campaign, the Internal Revenue Service warned wealthy individuals about three tax traps designed for them by dishonest promoters and shady tax practitioners. For those with high incomes, they can be tempting targets for a variety of schemes and aggressive tax strategies...